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FUTURE OWNERS
This page is for future owners of either yachts and/or
moorings , and will give
some advise on what to beware of when buying a yacht and/or mooring.
I plan to buy a yacht,
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Discover our online helpdesk, please click here
FUTURE
YACHT OWNERS
We understand the feeling that comes with the desire of
owning a yacht. Some just like to enjoy the privacy only a yacht can offer, or
the adventure of cruising the seas, seeing new places that are only accessible
with a yacht, or just having a floating home in your favourite holiday town.
Nevertheless, a yacht can be used for so many more purposes.
Cooperate events, parties, charter, transportation, entertaining clients, and
more.
After many years advising clients in purchasing a yacht, we found that when a
client had chosen the yacht he wanted, was often prepared to take unnecessary
risks. Some brokers announced that another "buyer" was on the point of
purchasing, with the only target to speed up the process or raising the price.
This practice is very common, and unfortunately many people paid too much, or
where in such a rush that they didn't bother to get proper technical and value
surveys. Leaving them with a yacht full of technical defaults that ruined the
joy of owning a yacht, and often ruined their precious holidays.
Recommended procedures:
- Ask advise from a non partial specialist to discuss your expectations of a
yacht. Where are you going to cruise, how many berths needed, size, children
or not, sail or power and last but not least, your budget to purchase, but
also to run the yacht on a yearly basis. The amount of different type of
yachts is enormous, so this advise would able you to search more to your
specific needs.
- You will find that the same yacht is often advertised by different
companies or persons. Neither is the owner usually. So it doesn't make any
sense to ask information with all of them, because they would demand all a
share in the sales commission when you are registered with them. In other
words, instead of lowering the price, it gets higher. Stick to one seller
only. But never forget to ask your adviser if that company or person is
reliable and of good reputation before doing anything.
- Let your adviser do the negotiations, he knows often by experience if a
yacht is easy to sell, long time on the market, its real value, and he is not
"in love" with the yacht of your dreams.
- When you agreed on the price, have a sea trial. Preferably with a surveyor
and your adviser.
- Your adviser should have made a preliminary survey. With this document
decide which surveys to carry out.
- Upon the results of the survey, often the price is readjusted to the work
that needs to be done. Let your advisor renegotiate.
- Organise a mooring of your choice.
- Make sure that your yacht is properly unregistered from the register of
the seller.
- Check with the tax authority in the country where it has been paid if it
is really paid. You wont be the first to have a fake "tax paid" yacht.
- Obtain good insurance, from the moment that you have paid the yacht, even
when it is still insured with the sellers insurance.
- Register the yacht from the moment that it is unregistered, it is
forbidden by law to cruise with a yacht without the right papers.
- Additionally you might need crew, or an agent that charters out your
yacht.
- Even when you buy a new yacht your agent would be very useful. He could
take delivery, inspect the yacht, and will oversee the guarantee work that is
always there. Don't be misled that a new yacht is without problems. It never
is. Yachts are handmade most of the time.
As you might see, the above is for a relative "simple" yacht. However, the
bigger it gets, the more complicated it becomes. Their is a very large difference in yachts according to any other objects.
A yacht is a very complex machine that must provide transportation, domestic
comfort, style and safety.
Some examples:
- A yacht is usually equipped with propulsion engines, these engines are
very expensive compared to for example a car or truck engine. This is because
they are built in relative small series, and made of expensive corrosion
resistant materials to withstand salt water and air. A new 700 hp engine would cost
around 85.000,-€ ex. tax and excluding installation. So a yacht equipped with
2 of these engines already has over 200.000.- € worth in the engine room.
Picture below: Pre purchase survey on two MTU 1830 HP high speed engines
- Compared to a house, a yacht does not benefit from gravitational waste
discharge, nor a water supply that is already under pressure. Everything from
shower discharge, water supply, toilet waste, dishwasher and other water
consuming machines, must be treated and transported with pumps, tanks, pipes
and valves. Also electric power must be generated on board, usually with
diesel engine driven generators. These must have the same resistance as the
main engines as described before. Again they need pumps for cooling,
ventilators for air, and more.
- The paint used on yachts is the most expensive on the market, this paint
must be scratch resistant, in the same time flexible, high gloss, corrosion,
heat and cold resistant, easy to apply, and long lasting. Just a paint job on
a 20 mtr yacht would cost 40.000,- €
- Then last but not least, compare it with an aircraft, GPS satellite
navigation, radars, transmitters, depth sounders, auto pilots, satellite
communication, safety equipment and many more items.
Above is just to explain how important it is to have a yacht properly checked
by a specialist who will draft a report with all defaults and to be expected
expenses to make the yacht ready to go. It would save the future owner money,
but more important hassle and annoyances.
In all a good agent will save you lots of money
Click here to:
Show me the yachts High Tide has on offer.
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